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Bears watch MicroStrategy ahead of NASDAQ 100 inclusion

Bearish onlookers are increasingly skeptical that MicroStrategy’s flywheel of bitcoin accretion per diluted share can continue much longer.

MicroStrategy bitcoin purchases aren’t stopping premium decline

MicroStrategy’s premium to its bitcoin holdings, sometimes called its NAV premium, has dropped one-third from its November all-time high.

The MicroStrategy chief advised the US government to purposefully dump its gold reserves solely to acquire over one-fifth of bitcoin’s supply.

Bitcoin hit an all-time high above $100K on Wednesday, yet MicroStrategy fell 4.8% the following day and closed 28% below its all-time high.

Bitcoin reached $100,000 and has a market cap of over $2 trillion, putting it ahead of silver, tech giant Meta, and Elon Musk’s Tesla.